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  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    rlp2451,

    The article in question is gone, but many of us read it and the nasty comment from the PR firm.

    The article was paid for by the PR firm, and the disclosure at the start of the article stated as such. However, in a comment the PR firm lied in stating that it had not paid for the article and threatened legal action against another commenter who repeated the author's disclosure. Drawing attention to the disclosure put the entire article, which was a whitewash of PSEC, into a not so complimentary light.
    Jun 19, 2015. 10:37 AM | 4 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    koleffstephan,

    "12% dividend payout"

    You have made that claim twice, and yet you agreed with my calculation that you are really receiving ~9.555%. Do you really believe that you are earning 12% on your investment?
    Jun 19, 2015. 10:23 AM | 3 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    The way to get facts you can believe is to go to the SEC filings and read them for yourself. Anything you read here is an opinion, including mine.
    Jun 19, 2015. 02:39 AM | 3 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    RumbaGuy,

    Wrong again. HTGC:

    Total Assets 2014-12-31: 1,299M
    Total Assets 2015-03-31: 1,387M

    Luck is not needed. However, accuracy is required if you want to make good decisions.

    Seriously, you need a refresher on how to do due diligence.
    Jun 19, 2015. 02:29 AM | 6 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    koleffstephan,

    I am also a long term dividend investor. My preferred holding period is 'forever'. I own TCPC in a RIRA so that may actually happen. I own HTGC and MAIN in 3 different TIRAs, so the time may come when I have to distribute some or all of those positions, and then I will have to decide if I want to keep them in a non-qual account or convert to something with qualified dividends.

    I hope for your sake that PSEC can increase its dividends and its NAV.
    Jun 18, 2015. 08:16 PM | 6 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    If I understand correctly, in your non-qualified account your YOC is (0.0833*12)/10.70 = 9.34%, and your SEP-IRA YOC is (0.0833*12)/~9 = ~11.1%.

    Your total costs are (178430 * 10.7) = $1,909,201 for your n-q account and (30000 * ~9) = ~$270,000 for your SEP-IRA, for a total cost of ~$2,179,201.

    Therefore, your cost weighted YOC = ((1,909,201/2,179,201) * 9.34%) + ((~270,000/2,179,201)*... = 8.18% + ~1.375% = ~9.555%.

    I think that is correct. Close enough for government work.

    My YOCs are:

    MAIN: (55.2% * 6.83%) + (44.8% * 6.94%) = 6.88% excluding special dividends

    HTGC: (41.7% * 8.67%) + (58.3% * 9.88%) = 9.375%

    TCPC: 8.94%
    Jun 18, 2015. 07:11 PM | 2 Likes Like |Link to Comment
  • Last Exit [View article]
    alan,

    The trick is to identify the 'proper time'. Only those with perfect 20/20 foresight can do it. For the rest of us, there is the Fidelity strategy: once invested, be a completely inactive investor. Buy and then hold on through everything.
    Jun 18, 2015. 06:37 PM | 1 Like Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    RumbaGuy,

    Wrong. Total return ALWAYS includes unrealized cap gains and losses.

    Plug your date into longrundata.com for both stocks and you get a completely different, and CORRECT, result:

    MAIN: 3.92% annualized TR
    PSEC: -19.98% annualized TR

    You are entitled to have your own definition of total return. That is your private business. But when you publish a mistake you must expect to be called on it.

    As a learning experience, I suggest you use longrundata.com to compare MAIN to PSEC over the time when both existed. MAIN is the newer, it started trading on October 9, 2007. Since that time, MAIN's annualized total return is 21.06%. PSEC is 1.55%.
    Jun 18, 2015. 06:27 PM | 9 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    koleffstephan,

    Is that 12% yield your yield on cost?
    Jun 18, 2015. 05:53 PM | 3 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    I think you have a point. According to longrundata, FSC has done even worse than PSEC.
    Jun 18, 2015. 01:23 PM | 1 Like Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    The Wells Fargo BDC Index, to which BDCL is linked, includes all of the 'red' BDCs. If you want to own only the 'green' BDCs and the internally managed BDCs, BDCL does not do it.
    Jun 18, 2015. 09:57 AM | 8 Likes Like |Link to Comment
  • Last Exit [View article]
    Greek yogurt in the USA is made by General Mills, among other American producers. The only thing Greek about it is its name.
    Jun 18, 2015. 02:18 AM | Likes Like |Link to Comment
  • Defining, Measuring And Diversifying Income Risk [View article]
    I believe David Van Knapp and/or David Fish have done work in this area in the past.
    Jun 17, 2015. 11:18 AM | 2 Likes Like |Link to Comment
  • Main Street Capital Continues To Outperform All Other BDCs [View article]
    BartAtTheRanch,

    Forget about dividend.com. It has numerous errors. For one, MAIN was incorporated in March 2007, according to its most recent 10-K filing with the SEC. Anything dividend.com says about MAIN that predates March 2007 is in error.

    Many so-called 'information' sources on the Internet have errors. I suggest you go to the source - a company's SEC filings, or its web page.

    Performance numbers based on ex-dividend dates are not accurate. The payment date is the only date that counts for true dividend reinvestment. As of June 15, which was the payment date of the most recent dividend, MAIN had a 5 year compound annual total return (dividends reinvested) of 25.19%. The next payment date will be June 25, when the next special dividend can be reinvested, and only then will will know the 5 year total return for that date.
    Jun 16, 2015. 07:42 PM | 10 Likes Like |Link to Comment
  • UBS Leveraged ETNs: Separating Fact From Fiction [View article]
    Only by coincidence.
    Jun 15, 2015. 05:58 PM | 1 Like Like |Link to Comment
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